KSIP Signs MoU with AFEX to Revive the Commodities Sector in Kano State

Kano State Investment and Properties Limited (KSIP) has signed a Memorandum of Understanding (MoU) with AFEX, a leading commodities market player in Nigeria, to drive the development and revitalization of the commodities sector in Kano State.

The MoU, signed on 21st February at the AFEX Abuja office, marks an important step in KSIP’s commitment to creating sustainable economic opportunities and unlocking the full potential of Kano State’s agricultural and commodity value chains.

Through this partnership, KSIP and AFEX will work together to identify and unlock idle and untapped commodity assets across Kano State, support infrastructure development, expand market access, and create more efficient opportunities for commodity trading and commerce. The collaboration will also explore debt capital raise opportunities on the Exchange, with a focus on financing projects and operations that strengthen the commodity sector.

Speaking on the partnership, Auwalu Muktari, Managing Director of Kano State Investment and Properties Limited, said:

“A core focus for us at KSIP has always been securing wealth and creating sustainable value for the people of Kano State. This partnership with AFEX sets a strong precedent for reviving the agricultural sector by leveraging both human and capital resources to enhance productivity, stimulate investment, and generate long-term economic benefits for the state.”

Kano State remains one of Nigeria’s key producers of major staple commodities such as maize, paddy rice, sorghum, soybean, and sesame, as well as export commodities such as groundnut. However, challenges including drought, inadequate storage infrastructure, low fertilizer application, and limited access to quality seeds have continued to affect production capacity and market competitiveness.

As an institution established to promote industrial and commercial activities in Kano State, KSIP plays a strategic role in facilitating direct equity investment and supporting entrepreneurs in industry, commerce, and agriculture. This partnership with AFEX reinforces KSIP’s commitment to attracting financing into the agricultural sector and building systems that improve productivity, support farmers, and strengthen the broader economy of Kano State.

Also speaking at the signing, Ayodeji Balogun, Group CEO of AFEX, said:

“We are delighted at the opportunity to collaborate with Kano State Investment and Properties Limited to increase efficiency and innovation across the commodity value chain in Nigeria. Our exchange model provides a centralized platform for farmers, aggregators, and processors to engage in transparent and efficient trading, improve fair pricing across the value chain, and unlock the significant capital required for such a project.”

This partnership reflects KSIP’s broader vision of driving inclusive economic growth in Kano State through strategic collaborations that create measurable impact. By combining AFEX’s market expertise and technology-driven exchange model with KSIP’s development mandate, the partnership is expected to lay the foundation for a more efficient, inclusive, and resilient commodities ecosystem in Kano State.

At KSIP, we remain committed to fostering investments and partnerships that create value, empower communities, and position Kano State as a leading hub for agricultural and commodity-driven growth in Nigeria.